California Public Employees Retirement System maintained its position in shares of Sprague Resources LP (NYSE:SRLP) during the second quarter, Holdings Channel reports. The firm owned 43,000 shares of the company’s stock at the end of the second quarter. California Public Employees Retirement System owned 0.20% of Sprague Resources worth $1,037,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of SRLP. Emerald Acquisition Ltd. bought a new position in Sprague Resources during the second quarter valued at approximately $263,000. Bank of New York Mellon Corp acquired a new position in shares of Sprague Resources during the second quarter valued at about $717,000. Acadian Asset Management LLC increased its position in shares of Sprague Resources by 33.9% in the second quarter. Acadian Asset Management LLC now owns 192,836 shares of the company’s stock valued at $4,649,000 after buying an additional 48,824 shares during the last quarter. Cribstone Capital Management LLC acquired a new position in shares of Sprague Resources during the second quarter valued at about $124,000. Finally, Harvest Fund Advisors LLC increased its position in shares of Sprague Resources by 2.6% in the first quarter. Harvest Fund Advisors LLC now owns 438,258 shares of the company’s stock valued at $8,962,000 after buying an additional 11,189 shares during the last quarter. 53.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sprague Resources LP (NYSE:SRLP) traded down 0.12% during midday trading on Monday, reaching $24.40. The company had a trading volume of 1,242 shares. Sprague Resources LP has a one year low of $15.55 and a one year high of $26.00. The company has a 50 day moving average price of $24.05 and a 200-day moving average price of $23.47. The firm has a market capitalization of $519.79 million, a P/E ratio of 9.29 and a beta of 1.56.
Sprague Resources (NYSE:SRLP) last posted its earnings results on Friday, August 5th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.26. Sprague Resources had a return on equity of 36.19% and a net margin of 2.35%. The firm had revenue of $477.50 million for the quarter, compared to the consensus estimate of $711 million. On average, analysts anticipate that Sprague Resources LP will post $2.23 EPS for the current fiscal year.
SRLP has been the subject of several research reports. Zacks Investment Research raised Sprague Resources from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, August 2nd. Janney Montgomery Scott reiterated a “buy” rating and set a $30.00 target price on shares of Sprague Resources in a report on Saturday, July 2nd. TheStreet upgraded Sprague Resources from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, FBR & Co started coverage on Sprague Resources in a report on Friday, September 9th. They set an “outperform” rating and a $35.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $29.20.
In other Sprague Resources news, insider Paul A. Scoff sold 1,250 shares of Sprague Resources stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $24.43, for a total transaction of $30,537.50. Following the transaction, the insider now owns 20,155 shares of the company’s stock, valued at approximately $492,386.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
About Sprague Resources
Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined products and natural gas, and provides storage and handling services for a range of materials. The Company operates through four segments: refined products, natural gas, materials handling and other operations.
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